The Seventh Finance Commission
The Seventh Finance Commission of India was incorporated in the year 1978 consisting of Shri J. M. Shelat as the chairman and the following four other Members, namely,
- Dr. Raj Krishna
- Dr. C. H. Hanumantha Rao
- Shri. H. N. Ray
- Shri. V. B. Eswaran, Member Secretary
Recommendations
- The share of the states in the net proceeds should be raised to 85% excepting the share of the Union Territories which would be 2.19% of net proceeds
- The inter se distribution between the states should include 10% contribution factor and rest 90% would be on basis of population. The 10% allotment would be based on the State-wise net assessments
Notes
Centre State Financial Relations in India and Finance Commission by Sansar Singh Janjua
External links
This article is issued from Wikipedia - version of the 6/8/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.